Sounds like progress, not sure if yours being a 2000 has a slightly different layout and components to my 2003 facelift model (I do know the fuel pipes have 2 different versions and the low pressure entry to the High pressure pump has 2 variants.
I'm not clear as to what you mean by your filter housing as mine is just a sealed metal fuel filter (with an inlet rubber hose from the fuel heater (is this the hose where you see the bubble? - mine is solid black rubber so wouldn't see a bubble forming there on mine, and a female output for the plug in hard plastic fuel pipe which goes straight to my low pressure pump at the front of the engine (no heat exchanger between the filter and the LP pump on mine), and the filter just sits in a strap retainer cup to hold it in place (doesn't act as any seal, just holds the filter from vibrating).
Dont suppose you have any photos of your engine bay do you, just for curiosity as Ive not seen under a non facelift before.
Not sure if there is a valve or not, maybe someone else can confirm?
I know on mine there is a 3 ended fuel pipe (with a t piece branch) between the LP pump output to the HP pump inlet, then the T branch off to a valve type thing which bolts to the top of the engine but does nothing (I believe this is to allow a mechanic to insert a pressure tester to check fuel pressure - I may be wrong) and I have always wondered if air could get in there if that failed, but as i said before not all 270's have this extra T piece so not sure if yours does or doesn't (not that I'm saying that's your problem) but again curious if yours is slightly different to mine.
Sounds like progress
All the best.
Moz